ATHENS WATER SUPPLY & SEWAGE Co.

Dividend euros 0,13 per share for 2003.

According to the decisions of the Annual Shareholder?s Meeting the dividend for 2003's economic use will be of euros 0,13 per share.

Investors entitled to the dividend are the company?s shares occupants in the closing of the Athens Stock Exchange trading session of 11th June 2004 according to the company?s shareholders registry. From the beginning of the trading session of 14th June 2004 the company?s shares will be traded without the right to the dividend for the 2003?s economic use .

The starting dividend payment date together with the way of payment will be announced by a later company?s release.